PUNE, India, Aug. 24, 2017 /PRNewswire/ -- Market Research Future published a half-cooked research report on "Global Human Capital Management Market Research Report - Forecast to 2022" – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
IBM (U.S.), SAP SE (Germany), Software AG (Germany), Workforce Software (U.S.), ADP LLC (U.S.), WORKDAY (U.S.), Oracle Corporation (U.S.), Kronos Inc. (U.S.), LinkedIn (U.S.), Ultimate Software (U.S.), Infor (U.S.), Zenefits (U.S.), and Talentsoft (France) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Human Capital Management Market.
Human Capital Management Market – Overview
Human Capital Management Market is growing rapidly mainly due to the high adoption of internet of things (IoT). According to a recent study report published by the Market Research Future, Globally, the market for Human Capital Management has increased its market growth in recent years and is expected to gain prominence over the forecast period. The market is forecasted to witness a thriving growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period. The global Human Capital Management Market is expected to grow to USD ~22 Billion by 2022, at ~10% of CAGR between 2016 and 2022.
Burgeoning demand for workforce optimization and increased number of mobile applications are driving the Human Capital Management market. Additionally, the rising usage of e-recruiting solutions attributed to the increasing organizational adoption of these solutions is propelling the market growth of HCM. A large number of organizations have started adopting these solutions for on boarding, training, e-learning, candidate management, and selection management. Moreover, the multiple benefits that Human Capital Management offers owing to which the market growth is gaining a traction. HCM has many benefits such as organizational management, better recruitment, personnel administration, advanced time management, and better payroll processing and others.
However, the market may get confronted by the challenges such as security concerns related to software as a service-based human capital management solutions which is anticipated to result in a restraining factor for the market. Adversely, the demand for workforce optimization is ever increasing. The increasing demand for integrated high performance software is driving the human capital management market. Recently a trend towards digital transformation and internet of things (IoT) is observed, this is one of the driving forces of Human Capital Management market.
Human Capital Management is a set of practices related to people resource management which are focused on the organizational need to provide specific competencies. These practices are implemented in three main categories as workforce acquisition, Human Capital Management and workforce optimization. Human Capital Management is an approach of employee staffing that recognizes people as assets as human capital. In human capital management, the human capital's current value can be measured and its future value can be enhanced through investment.
Fast-emerging analytics technology is seen as giving companies an edge over competitors when it comes to managing human capital. Experts say talent analytics can enhance employees' development, in part by more closely linking them to the company's success and retaining them as long-term employees.
Human Capital Management Market - Competitive Analysis
Characterized by the presence of several major well-established players, the global Market of Human Capital Management appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and technology launch in order to gain competitive advantage in this market and to maintain their market position. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. The Key players operating in the market compete based on pricing, technology, reputation and services.
It has been observed that continuous developments are carried out to make more advancements to the Human Capital Management. As per a recent news Asure Software, a leading provider of Human Capital Management (HCM) and workplace management software has expanded partnership with SafeGuard World, a global employment outsourcing and payroll provider, to deliver highly advanced global payroll solution to new and existing clients to add more advancements to Human Capital Management.
The Global Human Capital Management Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation By Component: Comprises Service (Transformation services, Implementation Services, Consulting services, Support and maintenance and other), Software Solution (Workforce Analytics, Competency management, Performance management, Time and expense management, E-learning, E-recruiting, E-boarding, Core HR, Talent Management, Payroll and Tax).
Segmentation by Organization Size: Comprises SMEs, Large Enterprise.
Segmentation by Deployment: Comprises Cloud, On Premise.
Segmentation by End Users: Comprises Manufacturing, BFSI, IT/ITES, Healthcare, Transportation, Government and other
Human Capital Management Market –Regional Analysis
The regional analysis of Human Capital Management Market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The study indicates that North America region is dominating the Human Capital Management Market owing to factors such as increased internet penetration and technological advancements. The study also indicates that cloud deployment is a driving factor for Asia-Pacific region to grow significantly in the human capital management market by the forecast period. Apart from it the rising adoption of IT services is also driving the human capital management market.
Browse Related Report
Human Capital Management Software Market Information, by Deployment (On Premise, On Cloud), by Applications (Analytics, Payroll, HR Planning), by End Users (BFSI, Manufacturing, Healthcare, Telecom, Energy, Retail)- Forecast 2016-2022
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